With average car insurance policies costing over $1,000, this is a significant expense for vehicle owners to put up with year after year.
Of course, you don’t have to settle for an insurance deal that is bleeding your bank account dry, as there are plenty of ways to save if you are savvy about it. So, with that in mind, let’s look at the most impactful options for keeping auto insurance cheap without making compromises.
Carry out a quote comparison online
Consumer-friendly car insurance comparison sites like Cheap Insurance are the perfect place to get quotes for auto policies from the best providers in the US.
Because each insurer has its own target audience, its own approach to calculating risk, and its own targets to achieve, by comparing quotes, you will quickly see just how wildly different premium prices can be.
Another advantage of turning to independent comparison sites when looking for cheap car insurance is that it’s not just the prices of packages you can weigh up.
You’ll also be able to see which features are available from which insurers, so if the value for money is more important than sheer affordability, this is equally attainable.
Build and maintain a good credit score
The majority of states in the US allow auto insurers to adjust premiums based on the credit history of their customers. If you have a bad credit score or have no credit history at all, it is sensible to take steps to boost it for this reason, among others.
Using credit responsibly, which means paying off credit cards and loans on time, is the top option for improving your score, and this will be reflected in cheaper car insurance costs.
Be accurate with your insurance info
The more detail you give and the more precise you are with your figures, and the more accurate your car insurance quotes will be. This can make a big difference to the price, especially when it comes to the aspect of annual mileage.
Rather than going for the default mileage suggested, provide as exact of a figure as possible for this. The reason is that if you have lower annual mileage, you’ll not be at as much of a risk of an accident, which will be reflected in the policy price.
Shoulder more financial risk yourself
Another quick fix for cheap car insurance is to increase the deductible that’s attached to your policy. Providers will charge customers less if they know that when a claim is processed, the driver will be responsible for covering more of the costs in the aftermath.
Having a higher deductible does leave you at greater risk of the financial fallout of incidents on the road, which results in insurance claims being made. However, if you are confident in your capabilities behind the wheel, it could give you access to savings.
Switch up your car
Switching insurance policies is not the only way to make savings, as you could keep costs down by changing the car you drive.
A car says a lot about the driver, and insurers have in-depth stats on the different risk levels represented by different vehicles.
Broadly speaking, more powerful cars cost more to insure than more economical equivalents, and so a family-friendly wagon will not cost as much to cover as a sporty coupe.
Vehicle age also has a part to play, although not in the way you might think. Newer cars tend to be safer, so they can actually be cheaper to insure than old rust buckets.
Be aware of all these variables, and most importantly, compare quotes in order to save a lot of money on your car insurance.